The stock of Wells Fargo & Co. (NYSE: WFC) has decreased by -0.28 when compared to last closing price of 64.38. Despite this, the company has experienced a 5.26% gain in its stock price over the last five trading sessions. fool.com reported 2024-10-18 that Big banks should see NII start to improve as the yield curve normalizes.
Is It Worth Investing in Wells Fargo & Co. (NYSE: WFC) Right Now?
The price-to-earnings ratio for Wells Fargo & Co. (NYSE: WFC) is above average at 13.34x. The 36-month beta value for WFC is also noteworthy at 1.16. There are mixed opinions on the stock, with 8 analysts rating it as a “buy,” 4 rating it as “overweight,” 15 rating it as “hold,” and 4 rating it as “sell.”
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The public float for WFC is 3.40B, and at present, short sellers hold a 0.91% of that float. The average trading volume of WFC on October 18, 2024 was 17.07M shares.
WFC’s Market Performance
WFC stock saw an increase of 5.26% in the past week, with a monthly gain of 15.05% and a quarterly increase of 8.56%. The volatility ratio for the week is 2.59%, and the volatility levels for the last 30 days are 2.31% for Wells Fargo & Co. (WFC). The simple moving average for the past 20 days is 10.43% for WFC’s stock, with a 14.00% simple moving average for the past 200 days.
Analysts’ Opinion of WFC
Many brokerage firms have already submitted their reports for WFC stocks, with Wolfe Research repeating the rating for WFC by listing it as a “Outperform.” The predicted price for WFC in the upcoming period, according to Wolfe Research is $65 based on the research report published on October 08, 2024 of the current year 2024.
Evercore ISI, on the other hand, stated in their research note that they expect to see WFC reach a price target of $65, previously predicting the price at $67. The rating they have provided for WFC stocks is “Outperform” according to the report published on September 06th, 2024.
Deutsche Bank gave a rating of “Buy” to WFC, setting the target price at $65 in the report published on September 03rd of the current year.
WFC Trading at 13.86% from the 50-Day Moving Average
After a stumble in the market that brought WFC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -0.80% of loss for the given period.
Volatility was left at 2.31%, however, over the last 30 days, the volatility rate increased by 2.59%, as shares surge +14.41% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +22.06% upper at present.
During the last 5 trading sessions, WFC rose by +5.59%, which changed the moving average for the period of 200-days by +32.29% in comparison to the 20-day moving average, which settled at $58.14. In addition, Wells Fargo & Co. saw 30.43% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at WFC starting from Williams Ather III, who sale 60,000 shares at the price of $63.70 back on Oct 16 ’24. After this action, Williams Ather III now owns 163,610 shares of Wells Fargo & Co., valued at $3,822,000 using the latest closing price.
Williams Ather III, the Director of Wells Fargo & Co., proposed sale 60,000 shares at $63.70 during a trade that took place back on Oct 16 ’24, which means that Williams Ather III is holding shares at $3,822,000 based on the most recent closing price.
Stock Fundamentals for WFC
Current profitability levels for the company are sitting at:
- 0.25 for the present operating margin
- 0.95 for the gross margin
The net margin for Wells Fargo & Co. stands at 0.19. The total capital return value is set at 0.02. Equity return is now at value 9.94, with 0.94 for asset returns.
Based on Wells Fargo & Co. (WFC), the company’s capital structure generated 0.62 points at debt to capital in total, while cash flow to debt ratio is standing at 0.13. The debt to equity ratio resting at 1.6. The interest coverage ratio of the stock is 0.74.
Currently, EBITDA for the company is 43.27 billion with net debt to EBITDA at 10.9. When we switch over and look at the enterprise to sales, we see a ratio of 5.47. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.85.
Conclusion
In summary, Wells Fargo & Co. (WFC) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
